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The Petro is Officially Available to Buy

The Venezuelan government has announced that their state-owned cryptocurrency, the Petro, is officially available to buy.

The Petro website states ‘You can now buy your Petros with Bitcoins and Litecoins. The Petro is a reality, Made in Venezuela!’

6 exchanges have been authorized to sell the oil-backed currency or it can be bought directly from the coins official website.

President Maduro previously announced that it would go on sale on November the 5th, 11 months after hinting at a state-backed cryptocurrency. The Petro Wallet was released on Google Play but has been deleted with reports that Google deliberately blocked the wallet.

The currency has proved to be extremely controversial. President Donald Trump banned US citizens from purchasing the Petro back in March and numerous respected news sources have implied that the Petro is fraudulent.

The currency certainly hasn’t had the best start but only time will tell if the Petro can become a legitimate, respected cryptocurrency.